Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Location Land For Sale Title is generated by Realmo AI

    351 Doctors Way, Hillsborough, NJ 08844

    View on Map
    Claim this Listing
    For Sale
    $2,500,000

    3.29 acres of land in Hillsborough Twp., NJ.

    Type:Land or Vacant Lot
    Lot size:
    3.29 Acres
    Added:
    Feb 14, 2025
    Days on Market:
    475
    Last Refresh:
    Apr 5 at 9:31 pm

    Property Features for 351 Doctors Way

    General Information

    Standard status
    Active
    Lot size
    3.29 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    KETAN THAKKER

    Listing agent KETAN THAKKER

    Listing office K T REALTY

    Listing date Feb 14, 2025

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of K T REALTY

    HighLights

    • Prime location on 206 North Bound.
    • 3.29 Acres of Lot.
    • Permitted principal uses include medical offices and veterinary hospitals.
    • Permitted principal uses include restaurants (sit‑down and carryout).
    • Permitted principal uses include child‑care and adult day‑care centers.
    • Potential referrals from surrounding medical offices.

    Overview

    This 3.29-acre lot is situated in a prime location on 206 North Bound. Permitted principal uses include medical offices, veterinary hospitals, fiduciary institutions, and business services. Restaurants are also permitted, including both sit-down and carryout options, provided that food and/or drink are not served to patrons in drive-through facilities. Child-care and adult day-care centers are allowed, subject to site plan approval. The property is located near surrounding medical offices, offering potential referral opportunities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Nail Salon Kitchen & Bath Showroom HVAC Service Garden Center Electrical Service Car Rental Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hillsborough
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.629
    Latitude
    40.4995

    Nearby Similar for Sale

    • $3,000
      1,300 SF

      Hillsborough Retail Space in Triangle Square

      1,300 sq ft retail space off Route 206.
      281 Triangle Rd, Hillsborough Twp., NJ 08844
      View Details
    • $615,000
      2,208 SF

      Two-Unit Multi-Family Property

      Two-family multi-unit property near canal and schools.
      206 ANN Street, HILLSBOROUGH, NJ 08844
      View Details
    • $279,000
      860 SF

      Boutique Professional Office Condo

      860 SF office condo in Hillsborough Twp., NJ.
      491 Amwell Rd, Hillsborough Twp., NJ 08844-3407
      View Details
    • $460,000
      3,011 SF

      Modern Office Complex For Sale

      Well-maintained office complex suitable for professional or medical use.
      491 Amwell Rd Hillsborough Township, NJ 08844
      View Details
    • $3,300,000
      14,376 SF

      Hillsborough Office Building For Sale

      14,376 sq ft office building in prime location.
      349 Us Highway 206, Hillsborough Twp., NJ 08844-4667
      View Details
    • $805,000

      Three-Family Home on Expansive Land

      Legal three-family home with historic charm and modern convenience.
      848 River Rd, Hillsborough Twp., NJ 08844-4096
      View Details
    • $325,000

      Hillsborough Township Industrial Land Parcel

      1.42-acre Light Industrial parcel with approvals in place.
      73 Weston Road, Hillsborough Twp., NJ 08844-4631
      View Details
    • $3,100,000

      Highway Frontage Commercial Development Site

      7.88 acres with highway frontage, ideal for commercial development.
      812-822 US Highway 206, Hillsborough Twp., NJ 08844-1508
      View Details
    • $3,100,000

      Hillsborough Twp Commercial Development Site

      7.88 acres commercial development site with high visibility.
      812-822 US Highway 206, Hillsborough Twp., NJ 08844-1508
      View Details
    • $599,000

      Approved Building Lot Opportunity

      28-acre approved building lot with utilities in Hillsborough Township.
      718 Mill Ln, Hillsborough Twp., NJ 08844
      View Details
    • $299,000
      860 SF

      Boutique Professional Office Condo

      860 SF office condo in Hillsborough Twp., NJ for sale.
      491 Amwell Rd, Hillsborough Twp., NJ 08844
      View Details
    • $805,000

      Unique Three-Family Home on Acreage

      Legal three-family home with historic charm and modern convenience.
      848 River Rd, Hillsborough Twp., NJ 08844-4096
      View Details

    FAQs

    What type of property is this?
    Commercial land - 3.29 acres of land in Hillsborough Twp., NJ.
    Where is this commercial land located?
    The property is located at 351 Doctors Way Hillsborough, NJ.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Prime location on 206 North Bound.; 3.29 Acres of Lot.; Permitted principal uses include medical offices and veterinary hospitals.
    (908) 753-7511
    We can help!
    Listing Contact
    KETAN THAKKER
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    351 Doctors Way, Hillsborough Twp., NJ 08844
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!